Westborough manufacturer sold in $214M deal
Minnesota-based Cogentix Medical operates a 24,000-square-foot manufacturing facility in this Westborough building.
Minnesota medical device manufacturer Cogentix Medical, which operates a 24,000-square-foot manufacturing facility in Westborough, has been purchased by a Toronto company for $214 million.
The sale to Laborie Medical Technologies, a privately-held company, was announced earlier this week by both companies. Now, Cogentix will become a wholly-owned subsidiary of Laborie.
Cogentix, which is listed on NASDAQ, has maintained the Westborough location on Flanders Road since 2015, when it relocated a facility from Natick.
The company’s main products include a device eliminating the need for high-level disinfection between endoscopy procedures and a device to treat urinary urgency and frequency.
In a statement, Laborie President and CEO Michael Frazzette said Cogentix’s products will fit nicely into Laborie's urology portfolio.
"The addition of Cogentix's suite of technology will significantly expand Laborie's therapeutic offering, thereby providing customers and their patients with comprehensive, clinically-relevant solutions along the disease treatment continuum,” he said.
According to Cogentix, the total amount of the transaction is $239 million after a merger with two of Laborie's subsidiaries.
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